LEASES

9 Months Ended

Sep. 30, 2021

LEASESA lease provides the lessee the right to control the use of an identified asset for a period of time in exchange for consideration. The Company has primarily entered into operating leases for branches and office space. Most of the Company's

leases contain renewal options, which the Company is reasonably certain to exercise. Including renewal options, the Company's leases range from seven to 32 years. Operating lease right-of-use assets and lease liabilities are included in other assets and accrued interest and other liabilities on the Company's unaudited condensed consolidated balance sheets.

The Company uses its incremental borrowing rate to determine the present value of the lease payments, as the rate implicit in the Company's leases is not readily determinable. Lease agreements that contain non-lease components are generally accounted for as a single lease component, while variable costs, such as common area maintenance expenses and property taxes, are expensed as incurred.

The following table summarizes the Company's operating leases at September 30, 2021 and December 31, 2020:


	September 30, 2021			December 31, 2020
Operating lease ROU assets	$	9,301		$	8,686
Operating lease ROU liabilities	9,832			9,143
Weighted-average remaining lease term (in years)	16.0			16.8
Weighted-average discount rate	4.2		%	4.3		%

The following table presents information related to the Company's operating leases for the three and nine months ended September 30, 2021 and 2020:


	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Cash paid for operating lease liabilities	$	331	$	210	$	947	$	847
Operating lease expense	388		421		1,179		1,171

The following table presents expected future maturities of the Company's lease liabilities as of September 30, 2021:


Remainder of 2021	$	296
2022	926
2023	951
2024	974
2025	991
Thereafter	10,387
	14,525
Less: imputed interest	4,693
Total lease liabilities	$	9,832